"Who knows more about business formation and hiring than Paychex, the country's premier payroll processing company for small business," Cramer said.

Looking at results released earlier this week, Paychex reported first-quarter profit of $162.8 million or $0.44 per share, up from $153.1 million or $0.42 per share in the same period last year.

Also, revenues that came in slightly better than expected, rising 5.1% year over year.

That seems bullish.

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"However, the metric I care about most right now is checks per client, which tells me how many people they have on payroll," Cramer said "And here Paychex saw a 1.6% increase, up from a 0.9% increase last quarter," he said.

It should be noted that those results come in contrast to results released by ADP which show U.S. private employers added 166,000 jobs last month, fewer than expected. Meanwhile, other results from the Mortgage Bankers Association shows mortgage applications remain relatively flat.

Current numbers don't yet include any effects from the federal government shutdown that began this week.